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Home My WebLink About2561 3 ~ i at aU timcspeaceably and quiedy to eater upon, hold. occupy end enjoy suid lund; 11?~t said land 'u [ree from aU encumbranoas; ~ that they wil! make suc~ furthes ssa~usnces to perfect tbe fes dmple title to said land in the Associatlan as may reasoiuzbly lw ~ required; and ttwt tliey do bcreby fuUy warrant the title to said land and will defend the same agai?~st the lawful claims of ~ all persons whomsoever. PflOVIDED ALWAYS tbat if thc Mort gagors shall well and truly pay unto the Association, the indebtedness evidenoed by that certain promissory note, oE ev~ca date herewitb, made by the Mortgagors and payuble to the Association, in thc princiral sum oE _TINENTY-EiCHT_ T~i0U5~A~NA.AND..NQ~l00ths--.-------------noll~rs 28,000. 00 which note, together with interGSt thereon us therein sPecjEied, is pnyable in monthly installments oE interest payments due_Qn_D~ay_.~, _1973,. .June 19'13,_ July 3._1_973 and #h~n TWQ HUNUR~A S~X AND 9~/_1QOths_---------------------------- - - - _ noUars (Z 206. 92 - ; on the-- --3Y'd.--- .---._da of each month commencin wi~h-----August. 3,---1973----,----- ' - - :u~e to be applied, fust to interest, and the balance~o principal, until said indebtedness is paid in fu11, and ahall perfo~ o~~p_1y i with and abide by each and every the stiputations, agn.~ements, conditions and mvtx~anis of said promissory note and this ' mortgaBQ Md, including any advances made by tbe .Associa~oA to the Moztgagon, or their successors in title, for anY Purpose~ j at any time before the release and cancellation of thic mortgage, but at no time shall this mortgage secure advances on account ~ oE said originat note together ~vith such additi_onal advances in a sum in e:cess of_.TNL~i~.Y~X-~~C~~..T~QUSAND_ AND - (i---28 000,~-UU--), pI~s any advances necessary - N4 14Rth~----~-------------_--'---~------------------------------------ to protect the security and costs, t6en t6is deed and the estate hereby created shall cease and be null and void, AND THE MORTGAGORS DO hereby cvvenant and agree; 1. To pay all and sing~ular the principal and interest and other sums of money payable by virtue of said promissory note and this mortgage, or either~ promptly on the days respectively the same severally come due, 2. To p~y al! and singular the ta~ces, assessments, levies, liabilities, obligations arid ineumbrances of every nature and ldnd now on said described property, or ihat•hereafter may be im , sufiered, placed, levied, or assessed thereon, ar that hereafier _ may be levied or assessed upon this Mortgage, or the inde edness secured hereby, cach and every, when due and payable, _ according to ]aw, before they become delinquent, and before any interest attaches or any penalty is incurred; and insofar .u :uiy thereof is of record the same shall be promptly ratisfied and discharged of recard and the original official document (such as, for instance, the tau receipt or the satisfaction ~raper officialiy endorsed or certified ) shall be placEd in the hands of said Association as ~fortgagee within ten days next after payment; and in the event that any thereof is not paid, satisfied und discharged, said Association may ut any time pay the saune or any part thereof ~vithout waiving or affecting any option, lien, equity or right under or by virtue of this !~iodgs~ge, and the full amount of each and every such payment shall be immediately due andpa yable and shall bear interest from the date thereof until paid at the rate stated in the note secured hereby and together with such inter- esc shall be secured by the lien of ihis Mortgage. _ 3. To ketp the buildings and all equipmrnt and personal property now or heteafter on uid premises covered by thit mortgage. insured in a sum equal to at leut the amount oI the mortgage. or an auwunt sufticient to rnmply with any co-insunnct reyuire- ment mvering che same under the laws ot the Scate of Florida, covering loss [rom both [ire and storm. making the lost under said policies, each and every, payable to the Association, as mortgagee. u iu intetYSt may appear, and said iruunnce ahall be in a good and nsponsiWe insurante rnmpany satistueory to said Association, and wrieten 6y a rapo~ible local agent satisfacwry to uid Auo- ciation: and the policy or policies shall bear a standard mortgage clause without rnntribution, and, if the original ptincipal amount o[ che mortgage is Fifty Thousand and no/100 Dollars (s50.000.00) or in excess thereof. i6all be held by the Association, and, in the event any sum of money becomes payabte under such policy or policies, the .4ssociation shall have the option to receive and apply the same on acoount of the indebtedncss henby secured, or to permit the mongagors to receive and use it, or anp part thereoE. for i other purposes, without thereby waiving or impairing any equity, lien, or right under and by virtue of this mortgage, and may place and pay ior such insurance, or any part thereof, without waiving or afEecting its option to iotrclase, or any right herrunder, ~ and the fuli amount oi each and every such payment shaU be immediately due and payable and ~all bear intetest Erom the date ' chereof uncil paid at the nte staced in the noce secured henbr and cogether with such~ interat s,hall be setured by the lien of this ~ Mortgage. ~ . To permit, commit, or suffer no waste, impairment or deterioration of said propert~~, or .~ny part thereof, and upon Y the failuro of the mortgagors to keep the buildings on said property in good condition of repa'v, the Association may demand the immediate repair of said buildings or the immediate repayment of the debt hereby secwed, and the lailure of the mortgagors , to rnmpty with said demand of the Association for a period of Thuty (30) days, shall constitute a breach of this mortgage, and, at thc option of the Assa:iation, immediately mature the entire amount of principal and interest hereby secured, and the :~ssociation, immediately and without notice, may institute proceedin;s to foreclose this mortgage and appl~• for the appointment of a Receiver, as hereinaker provideci. . 5. This modgage contract provides for additional advances which may be made at the option of the association and secured by this mortgage, and it is agreed that in the event of such advances the amount may be added to the modgage debt and shall increase the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of said note indebtedness under all the terms of said note and this contraM as fully as if a new such noie and contract were executed t and delivered. M additional advance agreement may be given and accepted for such advance and provision may be made for ? c~ifferent monthly payments ~nd a different interest rate and other express modifications of tbe contract, but in all other respecGs ihis contract shall remain in full force and effect as to said indebtedness, including all advances, 8. If any of the sums of money herein referred to be not pmmpdy and fully paid within Th'irty (30) days next after the same severally come due and payable, or if each and every the stipulations, agrcement, conditions, and covenants of said promissory note anJ this deed~ or either~ are not daly performed, complied with and abided . by, the agg~regate sum mentioned in said promissory note and any other amount or amounts added to the mortgage indebtedness under the tenms of ~his mortgage shal~ ~ome due and pay~ble forthwith or thcreafter at ihe option of the Association, as fully and completely as if said aggregate sum of money was originally stipulated to be paid ~ such day, any~thiog in said promissory note or herein to the contrary not- withstanding. 's 7. To deliver to the Associatan, on or before ~tarch 15th, of each year, tax receipts evidencing the payment oE all lav?•- F~~lly imposed taxes Eor the prececling ralendar year; to deliver to the Association receipts evidencing the payment of all Uens for pub~ic improvements withfn ninety (90) days after the same shall hocame due and payable, and to pay or diacharge within ninety (9p) days after due date, any and ali govemmental levies that may be made on the mo~tgaged property, ~m thic mortRagP nr note, or in any other way rc~sultinR fmm the mortgage indebtedrx~ss secureci by this mort~aRe. y -k 212 ~~~E2562 a ~ ~I ` -,~t -